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tv   MONEY With Melissa Francis  FOX Business  September 30, 2013 5:00pm-6:00pm EDT

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this mean, debt ceiling fight, government shut down fight, what does it mean for the debt ceiling fight. investors look to that for the real fight. >> thank you, rich. liz: 8:00 p.m. eastern, neil cavuto will continue coverage live. melissa: president obama is set to make a statement on the impending government shut down at any moment. while we await the president let's go live to capitol hill to get reaction on the day's events with congresswoman loretta sanchez a democrat from california. congresswoman, thanks for joining us. what do you say are the odds of a shutdown? >> i believe they're pretty high right now, considering we just heard that the republican conference met and that they're planning to put some more on the guam kiar things on the -- anti-obamacare things on the cr so i think we're headed for a shutdown. melissa: do you think it sounds reasonable to the american public that there is exemption for politicians and congressman
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and women, and not for small business? do you think where they're many coulding from. >> there isn't an exemption. that is what the problem is here. actually my staff and i have to go into the exchange, whether it is here in d.c., if we decide to take it from d.c. or whether it is back in california where i represent. so we will go into the exchange. we will pull off of that a policy that is available to each and everyone of the people who qualify in my district under obamacare. the difference is that right now the federal government is paying part of that. that is part of the benefits that we receive under the package we receive. and the official management personnel office said they will continue to do that. melissa:i'm asking you to hang on one second. we listen to the president. >> have all the responsibilities of the constitution endows to congress, two should be fairly simple. pass a budget, and pay america's
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bills. but if the united states congress does not fulfill its responsibility to pass a budget today, much of the united states government will be forced to shut down tomorrow. i want to be very clear about what that shutdown would mean. what will remain open, and what will not. with regard to operations that will continue, if you're on social security you will keep receiving your checks. if you're on medicare, your doctor will still see you. everyone's mail will still be delivered and government operations related to national security or public safety will go on. our troops will continue to serve with skill, honor and courage. air traffic controllers, prison guards,se who are with border control, border patrol will remain on their posts but their paychecks will be delayed
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until the government reopens. nasa will shut down almost entirely. but mission control will remain open to support the astronauts serving on the space station. i also want to be very clear about what would change. office buildings would close. paychecks will be delayed. vital services that seniors and veterans, women and children, businesses and our economy depend on would be hamstrung. business owners would see delays in raising capital, seeking infrastructure permits or rebuilding after hurricane sandy. veterans who have sacrificed for their country will find their support centers unstaffed. tourists will find everyone of america's national parks and monuments from yosemite to the smithsonian to the statue of liberty immediately closed. and of course the communities and small businesses that rely on these national treasures for
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their livelihoods out of customers and out of luck. in keeping with the broad ramifications of a shutdown, i think it is important that everybody understand the federal government is america's largest employer. more than 2 million civilian workers and 1.4 million active duty military serve in all 50 states and all around the world. in the event of a government shutdown, hundred of thousands of these dedicated public servants who stay on the job will do so without pay. and several hundred thousand more will be immediately and indefinitely furloughed without pay. what of course will not be furloughed are the bills that they have to pay, their mortgages, their tuition payments, their car notes. these americans are our neighbors, their kids go to our schools, they worship where we do, they serve their country
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with pride. they are the customers of every business in this country and they would be hurt greatly and as a consequence all of us will be hurt greatly should congress choose to shut the people's government down. so a shut down will have a very real economic impact on real people right away. past, past shut downs have disrupted the economy significantly. this one would too. it would throw a wrench into the gears of our economy at a time when those gears have gained some traction. five years ago right now our economy was in meltdown. today our businesses have created 7.5 million new jobs. over the past 3 1/2 years. the housing market is healing and our deficits are falling fast. the idea of putting the american people's hard-earned progress at risk is the height of
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irresponsibility. and it doesn't have to happen. let me repeat this. it does not have to happen. all of this is entirely preventible, if the house chooses to do what the senate has already done. and that's, the simple act of funding our government without making extraneous and controversial demands in the process. the same way other congresses have for more than 200 years. unfortunately right now house republicans continue to tie funding of the government to idealogical demands like limit a woman's access to contraception, or delaying the affordable care act, all to save face after making some impossible promises to the extreme right-wing of their party. let me be clear about this. an important part of the affordable care act takes effect tomorrow, no matter what congress decides to do today. the affordable care act is
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moving forward. that funding is already in place. you can't shut it down. this is a law that passed both houses of congress, a law that bears my signature, a law that the supreme court upheld as constitutional a law that voters chose not to repeal last november, a law that is already providing benefits to millions of americans in the form of young people staying on their parents plan until they're 26. seniors getting cheaper prescription drugs. making sure that insurance companies aren't imposing lifetime limits when you already have health insurance. providing rebates for consumers when insurance companies are spending too much money on overhead instead of health care. those things are already happening. starting tomorrow 10 of millions of americans will be able to visit to shop for affordable health care coverage.
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so americans who have lived for years in some cases with the fear that one illness could send them into bankruptcy, americans who have been priced out of the market just because they have been sick once, they will finally be able to afford coverage, quality coverage. many of them for the first time in their lives. some of them may be sick as we speak. and this is their best opportunity to get some security and some relief. tens of thousands of americans die every single year because they don't have access to affordable health care. despite this, republicans have said that if we lock these americans out of affordable health care for one more year, if we sacrifice the health care of millions of americans, then they will fund the government for a couple of more months. does anybody truly believe that we won't have this fight again
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in couple more months? even at christmas? so here's the bottom line, i'm always willing to work with anyone of either party to make sure the affordable care act works better. to make sure our government works better. i'm always willing to work with anyone to grow our economy faster. or to create new jobs faster. to get our fiscal house in order for the long run. i've demonstrated this time and time again. often times to the consternation of my own party. but one faction of one party in one house of congress, in one branch of government doesn't get to shut down the entire government just to refight the results of an election. keeping the people's government open is not a concession to me.
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keeping vital services running and hundred of thousands of americans on the job is not something you give to the other side. it's our basic responsibility. it's something that we're doing for our military and our businesses and our economy and all the hard-working people out there, the person working for the agricultural department out in some rural community who is out there helping some farmers make sure that they're making some modest profit for all the hard work they're putting in. they're the person working for hud who's hpi helping somebody a house for the first time. they're somebody in a va office who's counseling one of our vets who has got ptsd. that's who we're here to serve. that's why we're supposed to be carrying out these
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responsibilityings. -- responsibilities. that is why we should avoid this kind of constant brinkmanship. this is something we do in the ordinary process of this ex-record nary -- extraordinary system of government that we have. you don't get to extract a ransom for doing their job, for doing what you're speased to be doing anyway, or just because there's a law there that you don't like. the american people sent us here to govern. they sent us here to make sure that we're doing everything we can to make their lives a little bit better, to create new jobs, to restore economic security, to rebuild the prospects of upward mobility. that is what they expect and they understand that there differences between the parties and we'll have some tough fights around those differences. and i respect the fact that the other party is not supposed to agree with me 100% of the time
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just like i don't agree with them, but they do also expect that we don't bring the entire government to a halt or the enfire economy to a halt just because of those differences and that's what they deserve. they have worked too hard for too long to recover from previous crises just to have folks here in washington manufacture yet another one that they have to dig themselves out of. so congress needs to keep our government open, needs to pay our bills on time, and never, ever, threaten the full, faith and credit of the united states of america and time's running out. my hope and expectation is that in the 11th hour once again, that con geese will choose to do the right thing and that the house of representatives in particular will choose the right thing. thank you very much. [shouting] melissa: all right. so that was obviously the president of the united states,
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president obama, talking about the pending impending shutdown. let's talk to congressman loretta sanchez who we were chatting with before we. the president said, past shutdowns disrupted the economy significantly. that is actually not true. when you look at economics between the last shutdown, the economy was growing 3.5%. it did slow to 2.9 but then it exploded to 7.2% in the next year once the government went back to work. do you think that is disingenuous to say something like that? >> well, we all know that when you shut things down it costs money to shut them done and it costs money to bring them back up. there are the services in between that didn't get done. so there will be a cost to somebody whether it is the individual, whether it is the family member, who worked at that agency, who no longer gets paid for that week because they were forced to take it off. so there is some contraction. i don't know that it would be very large. it depends how long that goes
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for because as you know, the longer you stay closed it is harder to bring people back on. melissa: that was a very significant smutdown, that lasted much -- shutdown that longer lasted than people anticipated. if you look at explosion of expansion of gdp once they came back it settled out 4% for the year, better than where we started. look 7.5% from where we are. that would be a whole lot better, really speaks to this idea there were some payments that were delayed. when they were made, people went out and resumed their activity. the president was talking about people defaulting on car loans. that is certainly not what happened last time around. you know is it necessary to use that type of language now? >> well, again, it just depends how long this will take. i mean i'm still hopeful that maybe the republicans will figure out we shouldn't shut down the government. then we won't even have to face this. but reality is, that just depend how long this is. if i'm living, if i'm living paycheck to paycheck and i go a
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month or two months without my paycheck, i'm going to miss auto payments. i might miss my mortgage payment. what if i'm a family that doesn't have any cushion at all? the reality that can happen to people. it can certainly happen to people. depends how long it will take. if it is two or three days, then, we probably can get caught up fairly quickly. i was on a phone call with my best friend and they said the last time this happened, it took two or three weeks for them to get their checks and that they really suffered from it. this was the biggest thing they were concerned about yesterday as i spoke to them on the phone. melissa: congressman, thanks so much for spending time with us. we appreciate. >> thank you. melissa: so as the midnight deadline looms, follow me down this path to look exactly what would happen in the event of a shutdown. you tell me if it doesn't sound a little bit tempting. you still get social security and medicare benefits if you get those now. federal courts would be open. soldiers are still on duty since they're exempt from furloughs.
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they might face pay delays. you heard the congresswoman talking about that. the truth is the inconveniences to most americans seem fairly insignificant at most. i dare say give as taste of what a minimalist federal government might actually look like. a government that provides basic core services? i don't know, is that such a bad thing? here to weigh in, my absolute harvard professor, marti feldstein. great to see you again. >> great to see you. melissa: professor feldstein, what did you think of what you heard. you were commenting through the whole thing as the president was painting this dire picture what a shutdown would be. how serious would you be? >> the details don't make it seem very serious at all. sound like the main things that will be closed are things like national parks and museums and then a lot of bureaucrats who who will have a little backlog to catch up on and if they have to go home for a few days. melissa: you heard the
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congressman talking about people living paycheck to paycheck f they miss a paycheck they will default on their car payments. that is something the president was talking about as well. do you think a lot of people living on the edge who may be affected by this. >> some people may take advantage of this as an excuse not to pay. it all depends on how long it lasts. my gist is it will not last very long. it can't last very long because it will run into the debt ceiling issue within a few weeks. melissa: how does that change things? >> so my guess is, and i don't know anymore than you and i have beenearing publicly. they will find a way of reaching some compromise on a cr, continuing resolution on the budget and will put off all the issue us including obamacare to be dealt with in the context of the debt ceiling which is also in october event. melissa: let's talk about the economy a little bit. i mean, people made a big deal
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about the fact that the economy will slow down as a result of this. the debt-to-gdp, already fragile economy, a lot of people out with their estimates saying it will take .1 of a percent, .2 of a percent out of gdp. simples like we're only one that dug up numbers. if you talk about things and do research look at recent time it happened. go ahead. >> a lot of things affect what the pace is at any given time. the kind of thing we're talking about now, the actual short-run impact just can't be very large on gdp. you saw how the markets have responded to this. no real response at all. a couple of tenths of a percent off the indices. bond interest rates actually down. this will not be a major economic event. i would be delighted in the economy bounced back in a big way next year but i don't think that's going to happen either. melissa: why do you think happened last time? >> i don't really know.
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i can't remember the details what was going oo with monetary policy and exports and other things but it is certainly not just the bounceback from a short, shutdown of the government. melissa: but it is probably not a permanent lingering effect when you see the cutback? does it come back? does all the spending missed come back or is it lost for good? >> no, i don't think it is lost for good. most of the paychecks, if people don't get paychecks immediately they will get them soon thereafter. as soon as they get those paychex they will go out and spend it. melissa: meantime the fed has said they are not boeing to taper. a lot was in response to tape anticipating these two crises coming up. is that a big help? >> not really. i think the fed's not tapering, not slowing down its purchases isn't going to have a major impact on the economy. it pushed interest rates down by a quarter of a percent on
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10-year bonds so nothing very substantial. what worries me about the fed's decision is that there's a lot of risk-taking going on by banks, by investors, by individuals because they're reaching for yield, because interest rates are still artificially very, very low. melissa: so we're creating bubbles elsewhere as a result of what we are trying to do with the fed. >> we may be creating bubbles right here at home. melissa: marti feldstein, thank you so much for coming on. we appreciate. >> good being with you again. melissa: next on "money," mark cuban finally gets his day in court. it is one big, ugly fight. the billionaire entrepreneur taking sec head on over insider trading charges. it is all the word on wall street. we have the inside scoop. do not back down. israel's benjamin netanyahu tells president obama that no slack can be given over iran's nuclear program. we'll tell you why it could break the bank for u.s.
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melissa: mark cuban is known for his bold and brash personality but in the boardroom and on the basketball court but today he is in a different court. the billionaire entrepreneur is going head-to-head with the sec over insider trading charges t all goes back to a phone call way back in 2004. the feds say the call saved cuban 3/4 of a million bucks in trading losses. they first came after him in 2008 t has been a high-profile back and forth the last five years. cuban says now it is not about the money. how is that possible? it is all the word on wall street. here with more of the inside story is frank from stansbury
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research. welcome back to the show, frank. >> thanks for having me. melissa: thank you. this all got fired up again because he started talking trash on his blog, mark cuban, right? >> did you see that? he started talking trash. the trial was thrown out. mark cuban did what he does and facts are not right. sec went after him a again. doesn't look good for him either. melissa: why doesn't it look for him? if it went to the sidelines the first time around, seems like they didn't have a very strong case. it all hinges on the phone call he had with the ceo of in that phone call lies whether or not he is guilty or innocent, right? >> yeah. a lot has to do with the phone call. think about it, melissa. you and i know about this. your own shares of a company, your largest shareholder at the time, 6% ownership, what he decided to do, sell shares, his entire position before a secondary stock offering. selling the position of jcpenney
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last week before the offering when the stock was trading at 12 and now it is $9. it immediately raised a red flag. for insider trading it is more than that you need more evidence. it is not he said/she said. it is going on right now. it will be interesting. they must have something in order to bring this back again. it will be interesting to see. if they have ceo testify or tape or email he could get nailed which is probably will be about $2 million. melissa: which, and $2 million is absolutely nothing to him. he is worth about 2.5 billion. so you have to wonder why he would continue to fight this so hard if it is so little money to him. what do you think? >> we, think about it. more about reputation, right? he is worth more than $2 billion. but on "shark tank" which is his famous show and been on "dancing with the stars." household name, famous almost like a donald trump type -- melissa: right. >> scary that he is advising businesses on "shark tank" how too run their companies and to be global conglomerates. you're looking at him and may be
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caught for insider trading. it will damage his reputation. that is what they're trying to do at sec. sec lag ad lot of major case. this is chance to go after a high-profile guy. i ttink that is right. that is what it is about. you don't want to fight the sec. people don't understand that. standard and poor's come out and look what happened to them. they downgraded credit rating and big probe with standard & poor's. melissa: like trash-talking the irs on national television. you definitely don't want to do that. you're audited next year for sure. >> exactly. melissa: sec are they feeling their swagger? you look what happened with them lately. look at the case of steve cohen. they have without convicting him of anything they have all but shut down his business. i mean he was untouchable for so long. >> yeah. melissa: they were after him, after him, after him. whatever happens from here his business is permanently damaged. do you think they're feeling some swagger from that that they go back after another big fish they havethey have had in their
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sites for a long time, mark cuban? >> probably. goldman saks and steve cohen are famous people to you and i in the business community. mark cuban is an household name. this will be in every major paper if he is convicted. this will be a plus for the sec and a negative if they don't convict. what do you think mark cuban will do if he doesn't get convicted? melissa: absolutely. it reminds you of the martha stewart case. for mark cuban, what exactly is it the government has to prove here? >> i think they want to prove insider trading is wrong and want to do it on larger scale. they want to prove a point, here is a guy talking negatively arrogantly about the sec i think that is why they reopened the case. if he just shut his mouth it would be okay. i'm a big fan of mark cuban. i like him. i'm a big basketball fan. he is hands-on owner. seems like the sec is going after a high-profile case and someone likes to talk to the media. i think they will really go
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after him here. melissa: frank, thanks so much. >> thanks. >> next on "money," not buying it. israel's benjamin netanyahu raises the red flag with president obama over iran. will israel be forced to act alone to take out the nuclear program. why the price of u.s. involvement in the middle east could be ready to soar. out with the old and in with the tweet. the very first twitter tv ratings taste like today. did you know my twitter handle is @melissaafrancis? feel free. they could create billions of dollars worth of turmoil. we'll explain why. do you ever have too much money or too many tweets? tweet me! the you know "hidden things." ok, why's that? well uhhh... hey daddy, what's your job? daddy's a uhh florist. are you really a florist? dad, why are there shovels in the trunk? there's no shovels in my trunk. i see shovels... you don't see no shovels. just am. well, it's true.
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iran. flashback to just last year, netanyahu said that the u. n entries into ms. redline for the iranian nuclear program. do you remember that? what is the cost of letting this problem even more out of control? is with me now, fox news middle eastern terrorism analyst. welcome back to the show. >> thank you. melissa: who could forget that bombed image from a year ago months. here we are one year later and he says to the president, iran is committed to israel's destruction and must be forced to dismantle their nuclear program. he also said, that a credible military threat and sanctions of brought iran to the negotiating table and pressure should not be east. what do you think about that? >> i think that tomorrow the prime minister of israel will have to draw something. may not be the bomb, but it will be a member of the region showing that the iranians have not increased their influence tremendously in a country that we have broker for many, many years. syria is involved in the civil war, led and not with hezbollah
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and of course, iran is pressuring tremendously saudi arabia. and he's going to make the case and saying you, americans, you are looking at what the iranians are saying. we are looking to what they're doing on the ground. that will be the difference. melissa: obviously there are a huge implications for human life around the world. this is a show about "money." that is why we focus on the cost . the costa standing on the sidelines, a lot of people worry about what it costs to get involved. earlier today, a former adviser to six secretaries of states was on the fox news channel talking about the cost of not getting involved. let's listen. >> the president cannot simply dismiss the red line on this one because if he does not act, the israelis will. if you think that the government shut down is wreaking havoc on wall street, wait until you see the prospects of a regional war and an israeli strike at plunging financial markets and rising oil prices. melissa: he also said that, you know, the set of circumstances
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that unfolds after that is so on predictable that that is something that causes even more damage than getting involved now in terms of cost. what do you think? >> he has a great point. basically the iranians are threatening was something that we cannot even control. and that is not just an exchange of missiles with the israelis. imagine, the impact. but what the iranians would do if we don't meet their demands, shutdown, and not our economy here, but the world economy. they could basically paralyze not defeat our forces, but paralyze international trade in that area, and that is basically 60, 70 percent from where western oil is coming from. imagine the impact of not just during the shutdown, but months to follow the scent and if that happens. melissa: you're talking about the strait of hormuz and how much commerce flows through there. what do you think would be a worldwide impact? how would we feel it here in the
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u.s. beyond just oil prices? >> oil prices alone is a problem but something else may happen. other terrorists who are deployed in the region, the red sea situation could also shut down that area. it would be looking at a situation we have never seen before since 1973 in terms of energy supply. melissa: meanwhile, the u.n. delegation from syria, assad himself did not come in person even though they're asking us to kick in a billion dollars in order to help dismantle the chemical weapons program. why do you think that he did not show up? t think he is afraid to leave his our country right now? >> afraid to leave his own country, free his regime will pull out and is also afraid that some legal situation could happen and he could be in trouble. he does not trust our system. he does not know what happened. it shows the best thing is to stay home for the time. melissa: to you think that would be money well spent? >> of course not. if we pay them money he will
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take the money. he will not dismantle the weapons system, and then he will go back into action and we have to pay not one but maybe 10 billion stop them. melissa: thanks you so much for your insight. >> thank you for having me. melissa: from the u.s. to every corner of the globe money has been flying around the world. first to germany, laying off 15,000 workers, but 4 percent of the german industrial giant work force. implementing cost-cutting measures. sales to meet profit targets this summer. on to the united kingdom. ikea will start selling solar panels that its store. the pilot program offers solar panel kits for about $9,200. if you are worried about building and installing those panels yourself, fear not. ikea will offer professional installation for them on your roof. thank goodness. that looks hard. landing now in moscow, 26 billion worth of cash. the city's international airport.
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that is according to moscow leading tabloid newspaper. the money has been held in a guarded warehouse at the airport since 2007. the cash or reportedly weighs 200 tons. the main ship the money from frankfurt but it never arrived. rumors are swirling that the fortune may have belonged to saddam hussein, may be khaddafi. it could be mine. imago trying to limit. next on "money," the game changer for tv lovers and that works everywhere. the very first twitter tv ratings debut today. have i mentioned that my twitter and all is melissa francis. it could create a multi-billion dollar mess. we will explain why. you may "money" today? as a $2 billion of sound to you? we will have the answer coming up. piles of money and lots of tweet straight ahead. ♪ (vo) you are a business pro.
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melissa: today marks a new day. the perfect temperature and leave for experimentation right year. twitter is now going to be incorporated into the ever so important tv ratings. we all hang our hats on the state today. the idea is that advertisers may be more inclined suspend the $66 billion that goes toward commercials on shows with very active twits the -- to letters. since it is my most favorite social media tool, i love the idea. here's a talk that it is actually accurate or ripe for manipulation. the king of marketing and our own media magnate. you tell me first. abbas is work? our they try to extrapolate what people are doing related to television. >> we had in executive, michele today, and i am fuzzy on exactly how is working because it is not as if they have taken from the same sample. instead they have a second sample where they're going and looking. one metric who have been so far to lack of love the big networks, for every tweet that
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they see about a television show they now know that 50 other people will see that. melissa: see it but are not watching and television. >> it turns out 90 percent of us now watch television. a second screen in hands. 55 percent, 90%. whenever have ourselves on out of our hand. twitter is tapped into that. more people will likely to buy products on that show. melissa: they tweet as well we are on the air. these are some of our regular friends from friday. he is fantastic. but i just wonder, a shameless shot up to my followers out there are commenting on the segment as we do it. i ask you, we know that these folks are watching because they comment on the product as it
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goes by. was it -- what is it that you can extrapolate? >> what you just did is exactly what this shows for the production companies are going to do. they will look for the people who are active and they're going to be incentivizing them without a house or who knows what to start tweeting about the programming. what it will do, exactly what he said. it will build a number of people talking about the show. we have no verification that it is doing is what you said. we don't know if it means people are watching and more importantly we do not know if buying the products that being advertised. >> i was talking to market people about this a few days ago they believe that twitter actually gives you an early end. the same way that credit be false walls were blown out. twitter comments blow up before something happens, and they are you could have known that j.c. penney was headed for problems,
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blackberry was headed for problems. gauging sentiment and looking at the bus. melissa: one of my favorite examples of all time, and you did this. the shark tornadoes phenomenon. went crazy. there were tweed's like crazy. they ended up having basically the same number of viewers according to nielsen that they normally did for that type of show at that hour. it was not a big blowout. oh, my gosh, this will be through the roof because there were so many people on twitter talking about it, but that is not what showed up the next day. what do you think? >> maybe this will become that effect. you know, when is good about all of this is that you are crowd sourcing reaction. again, what you just said, you can tell what will happen at a time because you can see what the zeitgeist is, you can see what people are talking about degrees and the program, whether you have more people watching the what may be deployed more engaged, jetting about it.
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melissa: wait. but they were all -- i mean, they always had bad programs. this was the signature, cheesy, you know, pseudo horror movies that have basically the same number for the premiere of a new, it's easy pseudo war movie that they do normally and will not know that any of those people, what they were talking about on line, they did not buy any of the products associated with the show. >> the fact is he makes a good point. more engaged means you're more engaged and walking -- watch in the show into is advertising on the show. the question is does it mean you'll be more of a buyer? you still have to have ads. >> the conversation is going on amongst everybody. all the people who you are tweeting without paying attention to what you're talking about. buyer shipload go up because you will see what is on people's minds.@ melissa: meanwhile this is sort of the second big link up, the
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second big win for twitter that we are talking about. we were talking about them partner in with the nfl. it seems like more and more evidence that they're pulling further and further ahead of facebook and anyone else in the social media around. can anyone catch up at this point? >> listen, no one could have caught up to my space. then facebook cleaned their clock. anyone can't catch up, and they can do it awfully quickly. blackberry, and right. so yes. >> be careful of the phrase catch up. i mean, facebook is still the biggest one out there. over a billion people in that tent. melissa: thank you for your great insight. next on "money," just hours from now, under the boughs of federal workers will be furloughed. how loss of free food to ease the pain? stick around. all of that in "spare change." you can never have too much "money" or to many cheeseburgers. ♪
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♪ melissa: is time for a little fun with "spare change." in honor of the impending government sat down, free burgers for federal workers for real. the founder of the chain, the furloughs civil servants hanging and, more than mob and to come in and get a burger if they show their idea. he just hope it does not last too long. he might go out of business. i am joined now from dc. very generous. you will do this every day between 11:00 and 1:00 p.m. and 5:00 p.m. and 7:00 p.m. what gave you the idea? >> a lot of customers are government workers. i see them all the time. i hear them talking about what is going to happen in case they do not have to go to work.
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and i decided there would be nice to invite them over for a nice juicy burger and make it a little the zero men. melissa: you're estimating you could give away 1200 burgers per day in each location. for locations, so this could end up being 5,000 murders per day. how long can you go before you go on a business? >> 5,000 burgers is translated into $25,000. and i just hope they open up, they go back in business soon. i might got a business. melissa: you're going to be the one really rooting more than anyone else for the government to get back to work. i was not rooting for them to get back to work, but now that i know what your case and may feel differently. you have a really incredible story that i want to tell our audience about. escape in the back of a truck with your family that went to turkey. you came to america. he started out selling candy bars in your class.
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it was from your uncle store your dad's store, double the price and so it's your classmates. fourteen in middle school. you went and got a job at burger king which is where your love of the burger business began. one point were you were going to rise : the morning and working for burger king in the afternoon and working in the grocery store overnight. you are someone who has worked very hard to create the american dream. you know, so what does giving a lot of money away right now means the? >> i always like to get involved in communities. i like to have fun with my business. i want to set a political statement. we want to get the republican and democrat, the senator to come over. i end this thing out. melissa: such a fantastic entrepreneur.
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you were going to host them for a session over burgers. one side or the other that you think is being more unreasonable right now? >> not taking any science. i just hope -- i just hope they go back to work send. melissa: otherwise you could be in deep trouble. your establishment looks gorgeous. i know the you said you're going to try and lead people to one burger when they come in. yassin interesting rules the you put in place to try to limit the damage. people could take it vantages. you're not going to refuse people live there want a second burger, even though you're trying to encourage them to just have one. you would like them to eat it on the premises. is that right? >> they can take it out, but we try to do one per person, we are doing this role the government workers, contractors, d.c. government workers. and we will do as long as it takes.
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we're not going to stop. come back to work. melissa: until they go back to work. keep the numbers until they go back to work. it is a great idea, great advertising. a good marketer. i hope it ends up paying off. we will see how long it lasts. a big super bowl commercial might have been cheaper depending on how long this is. thank you for coming on. we appreciate it first. >> one more thing. i want to let everyone know that we care more than the government does. melissa: thank you so much. up next, who made -- today? he is ready to break into billion dollars. we will have the right answer right after this. can you ever have to much c burger? ♪ ♪
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♪ melissa: whether it is some loss remains treat coming here is a made "money" today. warren buffett and berkshire hathaway proving yet again why he deserved that name.
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sets sold a $2 billion all and comes from goldman during the financial crisis. should receive about 13 million shares of goldman by exchanging. it will make its sixth biggest shareholder. meanwhile losing money today, everyone it was j.c. penney. sears grew over the retailer's finances and whether its management and save it from the abyss. the stock is lows level since 1982 during savings to date before closing down more than 2%. two fifths of the market value has been wiped out over the last 15 trading session. and making a rating records. the series finale poll then converts in million viewers, the best and the show's history. amc investors are clearly happy with those numbers. the stock rallied more than 2%. that is all we have for you. i hope you may "money" today. be sure to tune in tomorrow for my interview with the ceo of florida blue. it is the largest insurer in the state. if you want to know what will
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happen if obamacare kicks in? and bet he has the answers. you can hear a cry from the horse's mouth. cannot wait to see you back here tomorrow. tweet me. here comes "the willis report" next. ♪ gerri: hello, everybody. i'm gerri willis. tonight on "the willis report" the spending fight in washington that threatens to shut down the government. is there any way at of this? homeowners rushing. we will break down the new rules set to take effect. and banks making record profits by charging you tons of these. tonight the map to keep some of that money for yourself. rio watching out for you tonight on "the willis report." ♪ the stories and more coming up. also tonight


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